4 ms·
>In a fractionalized NFT you have a slightly richer context: > Owner/securitizer: I bought this unique pointer to an image of a dog for $4 million. > Th
by SV_BubbleTime 5y ago
>In a fractionalized NFT you have a slightly richer context:
> Owner/securitizer: I bought this unique pointer to an image of a dog for $4 million.
> The public: Ahahaha good one, congrats, money well spent.
> Owner/securitizer: Also I will sell fractional ownership interests in it for like $225 million.
> The public: Ahahaha another good one, that joke is worth $225 million to us, here you go.
>It’s two jokes so it’s worth 55 times as much. I don’t know!
>Also it doubled the next day?
Can someone give me the scenario that this ISN'T some derivation or form of money laundering? Honestly asking, because I just don't see it. It's too ridiculous.
Could it really be "just" out of control speculation and "jokes"? It seems to me the money behind these things isn't as "funny" as it would have to be for speculation. These are pretty serious amounts.
- paulpauper 5y agoIts called early investors having tons of cash to burn
- SV_BubbleTime 5y agoI suppose this could be some cunning types betting on a pump and dump. That wouldn't be money laundering but just as scummy. But I'm skeptical there are so many people betting on something so ridiculous with so much money.
- sabellito 5y agoHow would NFTs enable money laundering?
- aaroninsf 5y agoThey are a trivially transferable value store with no overhead, little over site, and no verifiable value; they are merely a vehicle for hard-to-scrutinize, unreported movement of [large amounts of] money.
- drdec 5y agoLet's say you are a criminal with $1M to launder. You create an NFT and sell it to you buddy for $1M. Hopefully your buddy is also a criminal mastermind* that already did some laundering, so it's not inconceivable that s/he has a legit looking $1M to spend. Now your buddy doesn't actually send you the cash, instead you deposit the $1M in ill-gotten goods you had laying around. Now you have a legitimate $1M in income to cover the illegal gains. Don't try this at home. I'm sure there are probably some gotchas in the above scheme. * Actually if you just find a legitimate rich person with low morals, they probably wouldn't mind participating for the usual launderer's fee.
- Nasrudith 5y agoAny widely flex-priceable commodity is good for money laundering and taking losses on money laundering seperate from transaction taxes neccessary to make the money clean. How can auditor spot something wrong when it is all bullshit in prices?
- core-utility 5y agoArt as a whole is already a commonly used laundering scheme, so I don't see this being much different.